{
}
MicroStrategy's Michael Saylor advocates for Bitcoin as a corporate treasury asset, despite criticism labeling the company's model a "giant scam." Major firms like Marathon Digital, Tesla, and Coinbase hold significant Bitcoin reserves, while others, including Amazon and Genius Group, explore adopting similar strategies to enhance shareholder value amid economic uncertainties.
Bitcoin mining company MARA has acquired 15,574 BTC for $1.53 billion, raising its total holdings to 44,394 BTC valued at $4.3 billion. The firm plans to continue purchasing Bitcoin, leveraging a yield of 22.5% quarter-to-date and 60.9% year-to-date. Other miners, including Hut 8 and Riot Platforms, are also expanding their BTC reserves, with Hut 8 acquiring 990 BTC and Riot adding 5,117 BTC to their holdings.
Hut 8 has bolstered its Bitcoin holdings to over $1 billion following a $100 million acquisition of approximately 990 BTC, bringing its total reserves to over 10,096 BTC. This strategic move positions Hut 8 among the top 10 corporate Bitcoin holders globally, as the company aims to enhance its financial position and shareholder returns through effective treasury management.
Bitcoin mining companies MARA and Hut 8 have significantly increased their Bitcoin holdings, with MARA purchasing a total of 15,574 BTC for approximately $1.53 billion, raising its treasury to 44,394 BTC valued at over $4.4 billion. Hut 8 added 990 BTC for about $100 million, bringing its total to 10,096 BTC. Both firms rank among the top six publicly traded companies by Bitcoin holdings, despite recent declines in their stock prices amid a broader market downturn.
Hut 8 has surpassed $1 billion in Bitcoin holdings following a $100 million acquisition of 990 BTC at an average cost of $101,710 per coin. This purchase supports the company's strategy of enhancing its mining capabilities and positions BTC as a strategic reserve asset amid a favorable regulatory environment. CEO Asher Genoot emphasized that the strategic reserve is crucial for Hut 8's treasury strategy, aiming to grow holdings organically at a discount to market prices. The company is also addressing a class-action lawsuit from shareholders related to allegations of overstating profitability and operational issues.
Asher Genoot
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
corporate strategies shift as companies embrace bitcoin treasuries for growth
Amazon.com, Inc.
Tesla, Inc.
Coinbase Global, Inc.
USA
Bill Gates
Donald Trump
Michael J. Saylor
Fred Thiel
Asher Genoot
Jack Dorsey
Jacob King
Brian Armstrong
Elon Musk
Aaron Green
Show more
04:21 22.12.2024
mara acquires 15574 btc for 153 billion as miners expand treasuries
22:00 20.12.2024
Hut 8 Bitcoin Holdings Surpass One Billion Dollars After Major Acquisition
United States Dollar
Marathon Digital Holdings Inc
Block, Inc.
MicroStrategy Inc
Tesla, Inc.
Coinbase Global, Inc.
Riot Blockchain Inc
CleanSpark, Inc.
Hut 8 Corp.
USA
Sean Glennan
Asher Genoot
Show more
05:00 20.12.2024
bitcoin miners increase holdings with significant purchases amid market fluctuations
20:09 19.12.2024
Hut 8 acquires 100 million dollars in Bitcoin surpassing one billion in holdings
13:46 19.12.2024
Trending
Subcategory
Industry Trends
Corporate News
Startups & Entrepreneurship
Retail and Consumer Goods
Supply Chain Management
Global Trade Developments
Government Economic Policies
Workplace Trends
Stock Market Updates
Industry Mergers & Acquisitions
Finance Mergers & Acquisitions
CEO Changes
Fintech Startups
Venture Capital Investments
Financial Scams and Security
Emerging Startups
Cryptocurrency Trends
Cryptocurrency & Blockchain Regulations
Funding Rounds & Investments
Energy Sector Developments
Countries:
Companies:
Apple Inc.
Google Inc.
Alphabet Inc.
NVIDIA Corporation
Tesla, Inc.
Microsoft Corporation
Amazon.com, Inc.
Delhivery Limited
Ecom Express Ltd.
Foxconn Technology Co., Ltd.
Samsung SDI Co., Ltd.
SWIGGY LIMITED
UWS JP Morgan EM A OSB
Netflix, Inc.
Airbnb, Inc.
Adobe Inc.
GEELY AUTO
TENCENT
CarTrade Tech Limited
Ciscom Corp.
Currencies:
United States Dollar
Indian Rupee
Chinese Yuan
Euro
Japanese Yen
South Korean Won
Vietnamese Đồng
Indonesian Rupiah
Algerian Dinar
Australian Dollar
Egyptian Pound
Saudi Riyal
Swiss Franc
British Pound Sterling
Russian Ruble
Pakistani Rupee
People: